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1003 Parkway Dr Boone, IA 50036

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For Sale
$1,725,000

24-unit apartment community in Boone, Iowa with value-add potential.

Property size:
23,760 SF

Property Features for 1003 Parkway Dr

General Information

Standard status
Active
Size
23,760 SF

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Listing Contact
David Eckley
Source: Cbre

Listing Agent: David Eckley

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

Parkview Terrace Multifamily Investment Opportunity

Parkview Terrace is a 24-unit apartment community located in Boone, Iowa, constructed in 1968. The property consists of two buildings with a total building size of 23,760 square feet. The unit mix features all 2-bedroom, 1.5-bathroom floor plans. The property has been well maintained and presents a value-add opportunity through interior unit renovations. The property is 95.8% occupied with an average in-place rent of $808. Boone is located 15 minutes directly west of Ames, home of Iowa State University, and 35 minutes north of the Des Moines MSA. A nearby planned $676M Daisy Brands facility is upcoming.
Location Intelligence

Current Use by Public Records

Parkview Terrace Apartments Apartment Complex

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Nail Salon Building Supply Gym & Fitness Center Accounting Firm Daycare Center

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Boone
County
Boone
State
Iowa
Longitude
-93.8810278
Latitude
42.0451863

FAQs

What type of property is this?
Apartment building - 24-unit apartment community in Boone, Iowa with value-add potential.
Where is this apartment building located?
The property is located at 1003 Parkway Dr Boone, IA.
What is the asking price?
The asking price for this property is $1,725,000.
What are key features of this property?
This property features: - High Occupancy Rate: 95.8% occupancy indicates strong tenant demand and consistent rental income.; - Attractive Cap Rate: An 8.11% cap rate suggests a potentially lucrative investment opportunity.; - Value-Add Potential: Opportunity for increased revenue through interior unit renovations.
More about this property
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